RE:RE:RE:RE:RE:Kevin O'chrome dome the analysts are pretty much split down the middle with half saying oil is going lower and the other half saying it will go higher.
timing aside I'm in teh bull camp only because these low prices are increase demand for oil and oil based products.
on the supply side, yes there are 300 wells that are not completed and will be but only when prices go higher or when producers can hedge out 6-12 months and get better prices and incentives to complete the wells.
don't forget about 1/3 of total reserves per well are produced in the first year and in many cases they are not profitbale at current prices, so I don't see producers running to complete these wells and even the new wells drilled will not be completed for the same reason.
I have been trying to figure out why Russia keeps producing flat out at 10 million a day, arn't they losing tons of money on this produciton or is the low ruible price combined with Brent pricing savign their butts??
bankers like lots of valuable assets for cover the debt and COS has that.
what would anew upgrader cost to build in today's dollars? 10 billion? just guessing
again I'm not trying to time the market in the shor ttun, but longer term COS is an attractive price for me to buy 1/4 position and see what happens.
DYODD and godo weekend everyone